China Seeking Judicial Authority to Convict and Sentence Crypto Activities: Report

Judicial interpretations are likely to be issued in the future.

AccessTimeIconOct 11, 2021 at 11:47 a.m. UTC
Updated Oct 11, 2021 at 1:10 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

The Chinese judiciary is reportedly investigating how to convict and sentence activity related to cryptocurrency.

  • It is expected that judicial interpretations will be issued in the future, China-based crypto journalist Colin Wu tweeted Monday, citing Beijing political magazine Caijing.
  • The current laws in China that make commercial activities involving crypto illegal cannot be applied, and so the government needs the judiciary to interpret them.
  • Virtually all crypto trading was outlawed in China last month, when the exchange of one crypto for another was banned. Caijing Magazine has suggested that the withdrawal of exchanges could see the criminal activities involved becoming more concealed.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Trending

1
CoinDesk - Unknown
Morgan Creek Is Trying to Counter FTX’s BlockFi Bailout, Leaked Call Shows

FTX’s $250 million credit facility offer – if inked as initially proposed – stood to effectively wipe out all BlockFi shareholders, including Morgan Creek Digital, the firm told its investors.

CoinDesk - Unknown
3
CoinDesk - Unknown
A New Chapter of Web3: Solana Unveils Smartphone ‘Saga’; Moody’s Downgrades Coinbase

The most valuable crypto stories for Friday, June 24, 2022.

CoinDesk - Unknown
4
CoinDesk - Unknown
How Are Institutions and Companies Investing in Crypto?

From putting bitcoin on their balance sheets to setting up shop in the metaverse, the ways brands and institutions are investing in cryptocurrencies continues to expand.

CoinDesk - Unknown